Emmis wins dismissal of suit by preferred shareholders

9:24 PM,
Mar. 4, 2014

Emmis Communications has been defending itself for the past two years from claims by five dissident preferred shareholders, who say the company used 'unfair, strong-arm tactics' in stripping them of dividends and voting rights. Emmis learned that it has won dismissal of that suit in a recent federal court ruling in Indianapolis.

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Emmis Communications has won dismissal of a nearly 2-year-old lawsuit brought by dissident preferred shareholders.

U.S. District Judge Sarah Evans Barker in Indianapolis ruled in favor of Emmis' motions for judgment, while denying motions by the dissident shareholders, and said she will order ­final judgment in the case.

"We were confident in our position, and the federal court has confirmed it," Jeff Smulyan, president and chief ­executive of Emmis, said in a statement Tuesday. ...